Enhancing Capital LLC Purchases New Shares in AbbVie Inc. (NYSE:ABBV)

Enhancing Capital LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 2,000 shares of the company's stock, valued at approximately $355,000.

Several other hedge funds have also recently bought and sold shares of ABBV. Groupama Asset Managment grew its stake in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock worth $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the 4th quarter worth approximately $29,000. Promus Capital LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $31,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,639 shares of company stock worth $11,067,025. Insiders own 0.25% of the company's stock.

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AbbVie Price Performance

ABBV stock traded down $1.98 during midday trading on Friday, reaching $209.98. The company had a trading volume of 16,647,005 shares, compared to its average volume of 5,243,989. The company has a market capitalization of $370.68 billion, a price-to-earnings ratio of 87.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The stock has a 50 day moving average price of $194.49 and a 200-day moving average price of $188.67. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 296.28%. During the same period last year, the company posted $2.79 earnings per share. Equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is currently 273.33%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Piper Sandler Companies reissued an "overweight" rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Citigroup raised their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Raymond James reissued an "outperform" rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Piper Sandler raised their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.45.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.